Ethereum battles around $2,100…selling pressure persists

YM Lee

Summary

Ethereum (ETH) is maintaining a bearish trend around the $2,100 level, raising the possibility of a further correction.
NewsBTC said clear resistance has formed around $2,250, $2,200, and $2,390, meaning selling pressure could persist even during a short-term rebound.
Analyst Jindal said the $2,100 level is a key near-term pivot, and if support breaks, declines could extend to $2,075, $2,050, and the $2,000 level.

Forecast Trend Report by Period

Ethereum (ETH) continues to trade with a bearish tone around $2,100, with talk growing of the potential for a further correction.

According to NewsBTC on the 5th (local time), Ethereum’s price failed to break above resistance at $2,250 and then saw losses deepen, slipping below $2,120. After briefly falling as low as $2,073, it is attempting a technical rebound, but the broader trend remains in bearish territory.

Ethereum is currently trading below $2,200 and is also below the 100-period moving average on the hourly chart. A clear downtrend-line resistance has formed near $2,250, leading to analysis that selling pressure is likely to re-emerge even on a short-term bounce.

Ayush Jindal, a NewsBTC analyst, said, “If Ethereum fails to regain resistance at $2,250, downside pressure could build again,” adding, “The $2,100 level will be an important near-term pivot.” He continued, “If that support breaks, the decline could extend via $2,075 and $2,050 to the $2,000 area.”

On the upside, $2,200 is seen as the first resistance level. Even if it moves above that, strong resistance is expected in the $2,250 and $2,390 zones. Jindal explained, “Only a clear break above $2,390 would open the door to a recovery toward $2,550.”

Technical indicators also support the bearish tone. On the hourly chart, the relative strength index (RSI) remains below 50, and the MACD is also moving in bearish territory.

Market participants largely see Ethereum as skewed toward further near-term downside rather than a rebound, as long as Bitcoin remains weak and broader risk-off sentiment persists.

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